Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Increased Demand Contributes To Power Price Rise

8 May 2001
Increased Demand Contributes To Electricity Price Rise In April

New Zealanders increased their electricity consumption last month in response to cooler temperatures, contributing to a substantial rise in average wholesale electricity prices. Average demand for April was up 1% from the same time last year.

Seasonally low rainfall during the month saw storage levels in the country’s main hydro lakes continue their downward trend. At the end of April national storage was at 2,214 GW/h, 74% of the average for that time of year, with South Island storage at 78% of average.

A key generation facility was out for much of April for routine maintenance, removing around 350 MW of capacity from the wholesale market. This, together with transmission constraints around Benmore in the South Island, also contributed to the increase in average wholesale prices during the month.

Monthly average prices at the two reference point locations climbed significantly in April. However, current average wholesale prices have decreased from the previous high.

Benmore, the South Island reference point, showed a marked increase in the average monthly price to 6.46 c/kWh in April, up from 5.02 c/kWh in March. The lower North Island reference point at Haywards recorded a similar price increase to 6.74 c/kWh, up from March’s figure of 5.18 c/kWh. The average price at Otahuhu, the reference point for the upper North Island, also rose to 6.73 c/kWh from 5.29 c/kWh.

-ends-

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Super Fund/Canada Bid v NZTA: Tow Preferred Bidders For Auckland Light Rail

The two preferred delivery partners for Auckland light rail have been chosen and a final decision on who will build this transformational infrastructure will be made early next year, Minister of Transport Phil Twyford announced. More>>

ALSO:

9.3 Percent: Gender Pay Gap Unchanged Since 2017

“While it has remained flat since 2017, the gender pay gap has been trending down since the series began in 1998, when it was 16.2 percent,” labour market statistics manager Scott Ussher said. More>>

ALSO:

Ex-KPEX: Stuff Pulls Pin On Media Companies' Joint Ad-Buying Business

A four-way automated advertising collaboration between the country's largest media companies is being wound up after one of the four - Australian-owned Stuff - pulled the pin on its involvement as part of a strategic review of its operations ... More>>

Bus-iness: Transdev To Acquire More Auckland And Wellington Operations

Transdev Australasia today announced that it has agreed terms to acquire two bus operations in Auckland and Wellington, reaching agreement with Souter Investments to purchase Howick and Eastern Buses and Mana Coach Services. More>>

ALSO: